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2023
Flag → Flag
Exports $83.9MRnk 95 / 142
2023
Flag → Flag
Top Product $15.6MRefined Petroleum
2023
Flag → Flag
Exports $51.6MRnk 21 / 156
2023
Flag → Flag
Top Product $35.2MMolluscs
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.51Rnk 87 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP$30.8BCURRENT US$
Rnk 108 / 195
2013-2023
Flag
GDP GROWTH63.1%CURRENT US$
Rnk 46 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
Flag
GDP PC$1,706CURRENT US$
Rnk 162 / 196
2013-2023
Flag
GDP PC GROWTH23.7%CURRENT US$
Rnk 92 / 195

About

South Korea-Senegal Trade: In 2023, South Korea exported $83.9M to Senegal. The main products that South Korea exported to Senegal were Refined Petroleum ($15.6M), Cars ($15.5M), and Plastic Lids ($13.3M). Over the past 5 years the exports of South Korea to Senegal have decreased at an annualized rate of 8.97%, from $134M in 2018 to $83.9M in 2023.

In 2023, South Korea did not export any services to Senegal.

Senegal-South Korea Trade: In 2023, Senegal exported $51.6M to South Korea. The main products that Senegal exported to South Korea were Molluscs ($35.2M), Non-fillet Frozen Fish ($11.4M), and Titanium Ore ($3.58M). Over the past 5 years the exports of Senegal to South Korea have decreased at an annualized rate of 3.71%,  from $62.4M in 2018 to $51.6M in 2023.

In 2023, Senegal did not export any services to South Korea.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Senegal ranked 87 in the Economic Complexity Index (ECI -0.51), and 125 in total exports ($5.72B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $12.1M and imported $2.11M from Senegal, resulting in a positive trade balance of $9.97M. Between December 2023 and December 2024 the exports of South Korea have increased by $2.79M (30%) from $9.29M to $12.1M, while imports decreased by $-129k (-5.77%) from $2.24M to $2.11M.

Trade In December 2024, the top exports of South Korea to Senegal were Cars, tractors, trucks & parts thereof. ($3.13M), Plastics & articles thereof ($1.72M), Machinery, mechanical appliances, & parts ($1.7M), Inorganic chemicals ($1.1M), and Paper articles ($608k). In December 2024 the top imports of South Korea from Senegal were Copper articles ($1.39M), Fish, Crustaceans & Molluscs ($597k), Preparations of fish, crustacenas, & molluscs ($375k), Aluminum articles ($159k), and Ores, slag and ash ($56k).

Growth In December 2024, the increase in South Korea's year-by-year exports to Senegal was explained primarily by an increase in product exports in Machinery, mechanical appliances, & parts ($1.19M or 238%), Cars, tractors, trucks & parts thereof. ($957k or 44.1%), and Organic chemicals ($532k or 3.13k%). In December 2024, the decrease in South Korea's year-by-year imports  from Senegal was explained primarily by an decrease in product imports  in Aluminum articles ($-678k or -81%), Fish, Crustaceans & Molluscs ($-492k or -45.2%), and Preparations of fish, crustacenas, & molluscs ($-7k or -1.83%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$2.79M(30%)
IMPORT GROWTH (December 2023 - December 2024)$-129k(-5.77%)

This section shows exports and imports data at subnational level for South Korea. Click any date in the line plot or any product to explore the exports or imports behavior of South Korea over time.

To check Senegal and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Senegal and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $83.9M to Senegal. The main products exported from South Korea to Senegal were Refined Petroleum ($15.6M), Cars ($15.5M), and Plastic Lids ($13.3M). During the last 5 years the exports of South Korea to Senegal have decreased at an annualized rate of 8.97%, from $134M in 2018 to $83.9M in 2023.

In 2018, Senegal exported $51.6M to South Korea. The main products exported from Senegal to South Korea were Molluscs ($35.2M), Non-fillet Frozen Fish ($11.4M), and Titanium Ore ($3.58M). During the last 5 years the exports of Senegal to South Korea have decreased at an annualized rate of 3.71%, from $62.4M in 2023 to $51.6M in 2018.

Exports from South Korea (Flag) to Senegal (Flag) (2023)

Exports from Senegal (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Senegal
Top DestinationMali$1.22B

This map shows whether countries import more from South Korea or Senegal. Each country is colored based on the difference in imports they receive from South Korea and Senegal or the difference in the growth in imports.

In 2023, countries that imported more from South Korea than Senegal included China ($162B), United States ($118B), and Hong Kong ($28.8B).

In 2023, countries that imported more from Senegal than South Korea included Mali ($1.22B), Gambia ($210M), and Guinea-Bissau ($157M).

Difference in imports from Senegal (Flag) and South Korea (Flag) (2023)

Comparative Advantage South Korea - Senegal

Flow
Scale

This chart compares trade between South Korea and Senegal by product, considering products traded by both, South Korea and Senegal.

During 2023, South Korea had a large net trade with Senegal in the exports of Plastics and Rubbers ($23.5M), Transportation ($18.3M), and Mineral Products ($15.6M).

During 2018, Senegal had a large net trade with South Korea in the exports of Animal Products ($46.6M), Mineral Products ($3.58M), and Metals ($796k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Senegal+$12.8MCars
Top Product Potential Senegal South Korea+$9.08MNon-fillet Frozen Fish

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of South Korea and Senegal. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Senegal. Similarly, a dot/product with the flag of Senegal indicates it has a comparative advantage over South Korea.

Product Space of South Korea (Flag) and Senegal (Flag) (2023)

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